Registration number:
Trent Valley Architectural Glazing Limited
(Companies House version)
for the Year Ended 31 March 2022
Trent Valley Architectural Glazing Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Trent Valley Architectural Glazing Limited
(Registration number: 10746774)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
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£ |
£ |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Profit and loss account |
(1,899,489) |
(1,905,262) |
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Total deficit |
(1,899,488) |
(1,905,261) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Trent Valley Architectural Glazing Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. At the balance sheet date, the company had net liabilities of £1,899,488 (2021 - £1,905,261). The company is reliant on the continued support of the group, which has expressed its intention to support the company. On that basis, the directors are satisfied that the going concern basis is appropriate.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Trent Valley Architectural Glazing Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Trent Valley Architectural Glazing Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Debtors |
Current |
2022 |
2021 |
Trade debtors |
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Amounts owed by related parties |
- |
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Prepayments |
- |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
- |
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Accruals and deferred income |
- |
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Other creditors |
- |
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On the 7 August 2018, the company granted a debenture by way of fixed and floating charge over the assets of the company in favour of Glass Umbrella Limited for the loan sum of £1,027,022.
On the 7 July 2020, the group granted a charge on behalf of Barclays Bank PLC as a fixed and floating charge over all assets covering all the property or undertaking of the company and a negative pledge in respect of a £1,250,000 loan.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is
The parent of the largest group in which these financial statements are consolidated is
The address of Glass Umbrella Limited is:
Dinnington
Sheffield
United Kingdom
S25 3QD